Good interim results from Cox Insurance have boosted shares in early trading.
A report from AFX said the group posted a sharp increase in first half profits. Cox showed pretax profits of £28.3m, up from £9.1m for the same period last year, said the report.
The company said it had laid the foundations for continued success in the second half of the year and beyond.
Chairman Peter Owen said: "Our position in the retail insurance market has provided us with a solid platform for this improved result. We will continue to underwrite for profit and to exploit opportunities in our Broking and Insurance Services business."
The report said broking and insurance services businesses raised profits from £8.6m for the first half of 2002 to £13.9m.
Owen is said to have reported steady progress in the run off costs of the discontinued commercial business.
Operating losses of the discontinued business, at longer term rates of return, are said to have fallen sharply to £1.3m for the period. Figures for the same period last year were £9.7m.
According to the report, Owen said the board is recommending a final dividend for this year.
